Eargo Disrupts Hearing Device Market with Launch of Innovative In-Ear Hearing Device

Ideal For Ear Bud Obsessed Millennials, Aging Gen Xers To Active Boomers

Maveron-Backed Venture Emerges From Stealth Mode

25 Jun, 2015, 08:00 ET from Eargo

MOUNTAIN VIEW, Calif., June 25, 2015 /PRNewswire/ -- Today marks the launch of Eargo and its revolutionary hearing devices, which are designed for the roughly 40 million people in the U.S. who experience mild to moderate hearing loss and are reticent to live with the stigma that can go with traditional hearing aids.  People live a loud life – from ear bud music listening to roaring sports crowds and decibel-busting concerts – and more people are experiencing hearing loss at a much younger age.  Enter Eargo – empowering consumers to hear life to the fullest.

Eargo hearing devices are virtually invisible.  Combining high-end consumer electronics aesthetics with medical device engineering, Eargo devices are packed with technology, yet tiny enough to hide entirely inside the ear.  Eargo was designed by ENT surgeon Dr. Florent Michel who was inspired by the feathers of a fishing fly to create patented Flexi Fibers, which are soft and self-adjusting.  Flexi Fibers make Eargo devices comfortable and breathable, and they allow some natural bass sounds to pass right through, since they don't plug the ear canal. 

Eargo devices are easy-to-use and work right out of the box. Unlike most hearing devices, they are sold as a pair and are rechargeable. They come with four pre-set sound profiles, which are designed to work for the majority of people with mild to moderate hearing loss.  The company's in-house audiologists and dispensers will also custom-program devices for users who send their audiograms to Eargo.

Eargo – co-founded by the father and son team of Dr. Florent Michel and Raphael Michel along with Daniel Shen – has been operating in stealth mode since 2013 when it was funded by a seed investment made by Maveron.  Since then, Eargo has raised $13.6 million in Series A financing from Maveron, Dolby Family Ventures, Crosslink Capital, Birchmere Ventures, Montage Ventures, Peterson Ventures, Red Sea Ventures and high-profile individual investors.

"I found that many of my patients were frustrated with existing hearing devices, so I set out to reinvent them," said Dr. Florent Michel, Eargo inventor and co-founder.  "I decided to use my 30 years of experience as an ENT surgeon to develop the innovative hearing solution that my patients have been asking for: a virtually invisible, comfortable, in-ear device that is easy to try, easy to buy, and easy to use."

"Eargo will enable consumers to live and feel better," said Raphael Michel, co-founder and CEO, Eargo.  "Everyone's hearing degrades over time; it typically starts in your 30s. Until now, millions of people have had trouble hearing from time to time, but have done nothing about it because of the high cost and unattractiveness of current offerings.  We believe that caring for your hearing health should not compromise your lifestyle, appearance or checkbook."

"At Maveron, we partner with the world's best entrepreneurs," said David Wu, general partner, Maveron.  "Raphael has quickly assembled a team of world-class healthcare professionals, engineers, and consumer marketers so that Eargo can scale fast and change the way hearing devices are perceived by consumers.  The category is no longer just about senior citizens.  Today, it encapsulates everyone from the ear bud wearing Millennials to a maturing Generation X and of course, a still very active Baby Boomer generation.  It's a 'green field' market opportunity given today's low penetration rate based on existing technology."

Eargo devices are designed to be comfortable all day long, whether you're at the office, hitting the gym or hooking up with friends after work to check out the latest restaurant. The Eargo devices can last a full day on a single charge and feature an innovative charging solution focused on users' on-the-go lifestyle. They come with a portable charger that fits in a pocket or purse and can charge the Eargo devices while consumers are out and about. The portable charger's built-in battery lasts for up to a week at a time, and when needed, the portable charger can be recharged wirelessly by placing it on its inductive charging base at home or at work.

Eargo Availability/Pricing:

Eargo is an innovative medical device protected by a portfolio of patents. Eargo is available for purchase online at www.eargo.com or by phone at 1-800-61-EARGO and arrives ready to use.  The Eargo hearing system, which includes a pair of Eargo hearing devices, the portable charger, and the charging base, is available starting at $1,980 – less than half the average cost of a pair of hearing aids in the U.S. according to industry research.  Financing is available for as little as $96 a month, and Eargo offers a 60-day money back guarantee.

About Eargo:

Eargo is a consumer medical device developer and manufacturer focused on innovative hearing solutions. Eargo is dedicated to empowering people to maximize their hearing health so they can live and feel their best.  The company created nature-inspired, patented Flexi Fibers and believes that hearing technologies should feel natural, work in harmony with the ear, and fit the user's lifestyle, not the other way around.  Eargo was founded by an ENT surgeon and a team of Silicon Valley medical and consumer technology executives who believe that caring for your hearing health should not come at the expense of your lifestyle or appearance.  The Eargo team comes from Stanford, MIT, Harvard and Cambridge, and includes executives and advisors from Apple, Yahoo, Logitech, Match.com and large hearing device manufacturers Phonak and GN ReSound.

Eargo is indicated for mild to moderate hearing loss.  Eargo will not restore normal hearing. Full benefit best obtained with frequent use. Eargo is not available in all states.  See eargo.com for more information and labeling.

Media Contact:
Kelly Susco
ksusco@rogersandcowan.com
310-967-3403

Karina St. Jean
310-854-8112
kstjeanrogersandcowan.com

 

 

SOURCE Eargo



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